20 April, 2010
IFS ensures project success with enhanced Project-Based Solutions 3.0
IFS today launches its latest project-based solutions software, PBS 3.0, designed specifically to give organizations greater visibility and control of their business-critical projects, helping secure competitive advantage as they are ready for economic recovery. The solution has been developed in cooperation with IFS’ project-oriented customers and experienced IFS consultants delivering Project-Based Solutions to customers worldwide for many years.
The solution offers project-driven organizations an application that incorporates all the benefits of a fully integrated ERP suite with specialist functionality for Project Control, Project Financial Control and Project Materials Management. PBS 3.0, which can also be integrated with 3rd party planning tools such as Primavera P6, dramatically improves customers’ ability to manage projects throughout their lifecycle and ensures vital project data is captured at the heart of core business systems.
IFS CEO Alastair Sorbie comments, “Full visibility and control of projects throughout an organization is essential. Problems occur when entire projects or subprojects are planned and monitored outside of normal corporate systems. This makes it impossible for project managers to track and understand how their projects can impact each other and the subsequent implications this has on the overall performance of the business.”
The enhanced Financial Control features within PBS 3.0 give users better revenue visibility across projects, the ability to predict future cost implications when changes occur to a project schedule and the means to keep tight control of actual vs. projected costs through real-time data on project progress. In addition, new Materials Management functionality allows users to manage bulk materials efficiently, ensuring the correct volumes are in stock at the right time, reducing unnecessary bottlenecks across project lines.
Sorbie adds, “Recent results from a study we commissioned with Forrester Consulting* highlighted that a lack of sufficient information causes significant project delays and duplication of effort, and yet companies are not taking advantage of available technologies to improve their capabilities and maturity. As organizations prepare for recovery, in what will remain a hugely competitive and cost-focused market, we firmly believe the ability to run mission-critical projects consistently more efficiently will impact the speed at which these businesses return to growth.”
Available for the first time through IFS’ revolutionary user interface, IFS Enterprise Explorer (IFS EE), the system has been developed with ease-of-use in mind, helping project managers to be in control of their projects with speed and accuracy. As the solution gives users access to data in real time, they always have to the latest information to hand, helping them make timely and accurate decisions.
The development of PBS 3.0 underlines IFS’ long-term commitment to developing solutions to support businesses operating in project-based industries. IFS is currently working with the International Project Management Association (IPMA) to develop a comprehensive Sustainable Efficiency study to explore further the extent to which companies manage their most business-critical projects as well as identifying best practices in this area. Project-based organizations worldwide will benefit from a study that demonstrates the business critical value of effective project management.
For more information on IFS’ ‘Sustainable Efficiency’ and to sign-up to received details from the research with IPMA, please visit www.sustainable-efficiency.net
PBS 3.0 was available for general release on April 9 2010.
*In this study, Forrester interviewed more than 15 organizations in the US and Europe to evaluate Project- Based Solutions. Survey participants included decision-makers in program management, procurement, executive management, and facilities management. Questions provided to the participants asked about current project management practices, current automation and tools usage, and future plans for project investment. The study began in November 2009 and was completed in December 2009.
IFS is a public company (OMX STO: IFS) founded in 1983 that develops, supplies, and implements IFS Applications™, a component-based extended ERP suite built on SOA technology. IFS focuses on agile businesses where any of four core processes are strategic: Service & asset management, manufacturing, supply chain and projects. The company has 2,000 customers and is present in more than 50 countries with 2,700 employees in total. Net revenue in 2009 was SKr 2.6 billion.